Two sales managers meet in a bar and one says to the other, “How many reps do you have working for you?” To which the other replies, “About half.”
It’s an old joke, but it stings a little because it demonstrates what many in the executive suite think about their sales teams. Of course, they all know that a sales department is important, and they want to invest in it—but they have their reservations.
There’s also a similar distrust with marketing where in order to get approval for a campaign, executives want assurances about the results. They want to see the return on investment on advertising, on demand generation, on direct mail, and so on.
Most executives are happy to invest if someone can convince them of what a good investment looks like and it can be demonstrated on a spreadsheet.
As marketers, we need to demonstrate how email leads have matriculated through the sales funnel, how many leads have converted through content distribution in social channels, and what channels are truly paying offyielding REAL pipeline, and most importantly, closed deals
The reality for marketing professionals in the B2B space is that branding and awareness isn’t going to cut it anymore. Marketing needs to be accountable for creating leads.
Salespeople can’t control this entire process anymore and they need leads.
Boardrooms make decisions with spreadsheets—they’re closely examining customer acquisition costs that includes both sales and marketing as a whole. Dollars are shifting between the two, and rightfuly so.
The good news is that there has never been a better time thantoday to quantify our customer acquisition costs because the tools are available to completely quantify the progress of a prospect as they move through the pipeline and tie it to closed deals.